Most home owners purchase life assurance when they arrange a mortgage but only a minority effect critical illness cover - even though they are five times more likely to claim on the policy!!
With medical advances more people than ever are surviving conditions that might have killed them in earlier generations.
For example, more than 90% of men diagnosed with testicular cancer are still alive five years later, whilst more than 80% of women diagnosed with breast cancer have the same survival rate according to the Office of National Statistics.
Critical illness cover can provide cash to allow people to pursue a less stressful lifestyle while they recover from illness or use it for any other purpose.
Interestingly it is stated that half of British women have no life assurance or critical illness cover or any form of protection and rely on their partner's policy.
So with a critical illness policy it is the diagnosis of the condition which leads to the claim on the plan.
In fact you do not have to be off work or have a loss of income to claim on a critical illness policy.
